Updated April 15, 2022
A Florida multi-member LLC operating agreement is a legal document that implements internal procedures and policies that all members of the company must agree upon and follow.
The state of Florida does not require that any business have this document in place; however, by the implementation of the document, all members’ private assets would be protected from the collection in the event of litigation, bankruptcy, or business failure. With this document in place, the members would also benefit from certain tax advantages.
Members would be advised to review the document to ensure that there is a clear understanding of all aspects of the agreement. The members may wish to consult with an attorney for a clearer understanding of the requirements of the document. Signatures applied to this document must be applied in service of a state notary to become effective.